Flutter Entertainment Praised by Morningstar Expert in Latest Evaluation
In the dynamic world of online gaming and sports betting, Flutter Entertainment stands out as a dominant force. The global giant, with its flagship U.S. brand FanDuel, leads the market with a commanding presence.
According to Dan Wasiolek, an analyst expert with Morningstar, Flutter's strong presence in key markets across the globe is a significant factor in its success. FanDuel, for instance, holds approximately 27% of the sportsbook market share in the United States, while its iGaming market segment has seen a staggering 42% year-on-year revenue growth in Q2 2025.
Financially, Flutter's performance is impressive. In Q2 2025, the company reported a revenue of $4.2 billion, a 16% year-on-year increase. The U.S. division was a significant contributor, with a 17% revenue growth. Adjusted EBITDA reached an impressive $919 million in Q2, a 25% increase, with FanDuel alone contributing a record $400 million. For the full year 2025, Flutter raised its revenue guidance to $17.3 billion and adjusted EBITDA to $3.3 billion, representing respective growths of 23% and 40%.
Flutter's success is not limited to the United States. The company maintains leading market positions in core regions like the UK, Italy, and Australia, and is expanding rapidly in emerging high-growth markets such as India and Brazil. It has also expanded its global footprint through acquisitions, such as Snai and NSX brands, supporting a 15% international revenue increase despite regulatory challenges.
Looking to the future, the global online sports betting and iGaming market is projected to grow to $368 billion by 2030. The U.S. market alone is forecasted to be between $70 billion and $121 billion, depending on the source. Flutter expects to sustain and extend its leadership by capitalizing on continued deregulation and market growth.
In summary, Flutter Entertainment’s strong market share, robust financial growth, and strategic global expansion make it the dominant and most powerful player globally in online sports betting and iGaming as of mid-2025. The company's strategic moves, such as the integration of Flutter's parlay features into Sisal in Italy, and the development of FanDuel's daily fantasy sports product in 2009, have given it a strategic advantage in the expansion of sports betting after the 2018 Supreme Court decision. With its continued growth and expansion, Flutter Entertainment is set to shape the future of online gaming and sports betting.
[1] Flutter Entertainment Q2 2025 Earnings Release [2] Morningstar Research Report on Flutter Entertainment [3] Flutter Entertainment Q2 2025 Earnings Call Transcript [4] Grand View Research Report on Global Online Sports Betting Market [5] PwC Report on Global Online Gaming Market
- Despite regulatory challenges, Flutter Entertainment witnessed a 15% increase in international revenue due to strategic acquisitions like Snai and NSX brands.
- With approximately 27% of the sportsbook market share in the United States, FanDuel, a Flutter Entertainment brand, commands a considerable presence.
- In the iGaming market segment, FanDuel experienced a staggering 42% year-on-year revenue growth in Q2 2025.
- As of mid-2025, Flutter Entertainment, known for brands like FanDuel and Sisal, is the dominant and most powerful player globally in online sports betting and iGaming, according to financial reports and market studies.
